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Increasing participation in continuing education by Real Estate Professionals
Citation preview
Proposal to Increase
Real Estate Professionals
Participation in Continuing Education
Alex Antonakos, REALTOR ®GEB3212 – Business [email protected]
“Knowledge is Power”
The Real Estate Profession requires constant learning and participation in educational courses to avoid potential costly mistakes and to be a
successful Realtor ®. The minimum requirements created by the state of Florida are simply not enough to correctly do your job.
HOW DO WE GET REAL ESTATE AGENTS TO LEARN WHEN IT’S NOT REQUIRED?
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It is not an unknown fact that there are many REALTORS® who only work part time in the profession. Continuing their education and knowledge
is vital to the success and well being of their clients and all parties involved in a transaction.
STATISTICS:Real estate experience of all REALTORS® (median): 13 years
REALTORS® by gender: Male 43%; Female 57%Formal education of REALTORS®:
• Some college: 30%• Associate degree: 11%• Bachelor's degree: 30%• High school graduate: 9%
• Graduate degree and above: 13%• Some graduate school: 8%
Source: National Association of Realtors®, 20143
STAKEHOLDERS
Real Estate Agent
BrokerTeam Leader
Lender
Client Home Inspector
Internal
External4
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The Florida Department of Business and Professional Regulation & The Florida Real Estate Commission are empowered to set the
requirements for pre and post licensees education.
FREE TRAINING!!!
Real Estate Agents are paid based on their service and are hired for their knowledge and expertise. If they can work more efficiently they can also
increase their sales.
Source: National Association of Realtors® - Field Guide to Working with FSBOs
Almost 30% of Homeowners feel they can do the job of a Real Estate Agent. Acquiring skills and techniques that can’t be taught online
make your position more valuable and less replaceable. 6
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Requirements
•63-Hour Pre License Course•State Exam•45 Hour Post License Course•14-Hours of Continuing Education (24 months)
March 2014 Office Calendar
Office Education & Training
•22 Courses This Month•Average Attendance <12%•26% of our agents capped in 2013
“The 5 Key Success Factors of Business”
1. Managing and Developing People2. Strategic Focus
3. Operations4. Physical Resources5. Customer Relations
8Source: Total Success Center. “Key Success Factors.”
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VSMandatory Trainings Reward System
Name Position Contact InfoExperience
(Yrs) FeedbackDallas Coffield Team Leader/KWTC 813.546.0446 25+ Reward System is a great ideaWilliam Kopp Agent/KWTC 727.235.2386 2
Reward System great for new agents
Cary Hicks Agent/Owner/KWTC 813.299.2047 6Concerns about costs of reward system and ROI
Randy Clunn Agent/KWTC 813.865.0700 10
Reward System will build a team of strong agents
What Our Agents are Saying!
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IMPLEMENT A REWARD SYSTEM
•Simple & Direct•Performance Reviews•Separate Compensation•Visible Results
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•More Knowledgeable and Experienced Agents•More Sales – More Profits•Less Agent Turnover•Less Association Fines
•Stronger and Additional Recruits
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•Financial Risk•Behavioral Risk
•Implementation Risk•Management Risk
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CREATE & IMPLEMENT A REWARD SYSTEM
Steps for Implementation1.System Based on Points
2.Goals MUST be Met3.Rewards have DIRECT Correlation to Business
4.Proactive Reviews of System5.Courses Updated
6.Visible Results & Leader board
Christie, Les. (2013). CNN Money. For Sale By Owner: Homeowners Ditching Brokers.Retrieved from http://money.cnn.com/2013/10/11/real_estate/for-sale-by- owner/
National Association of Realtors®. (2014). Field Guide to Working With FSBOs. Retrieved from http://www.realtor.org/field-guides/field-guide-to-working-with-fsbos
National Association of Realtors®. (2014). Realtor Statistics. Retrieved from http://www.realtor.org/field-guides/field-guide-to-quick-real-estate-statistics
Total Success Center. (2014). Key Success Factors. Referenced from The 5 Key Success Factors. Retrieved from http://totalsuccesscenter.com/business-success/key-success-factors/
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Please feel free to contact me with any questions.
Alex AntonakosReal Estate Professional
Keller Williams Tampa Central813.428.1907